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This set of Retail Management Multiple Choice Questions & Answers (MCQs) focuses on Retail Management Set 10

Q1 | The correct statement about chain stores is ----.
  • they offer economic of scale in buying.
  • they can hire good managers.
  • they integrate wholesaling and retailing function.
  • they centralize function.
Q2 | Which of the following objectives is concerned with strategic marketing planning?
  • Day to day performance and results.
  • Over-all long term organizational growth.
  • Identifying the strengths and weaknesses of marketing department
  • None of the above.
Q3 | Which sources of advantage will be helpful for a firm to achieve positionaladvantage over its competitors?
  • Superior skills.
  • Superior resources.
  • Superior controls.
  • All of the above a, b and c.
Q4 | What are the elements that a mission statement of an organization should include?
  • Sets guidelines for business operations
  • Identifies the reasons for existence of a company and its responsibilities to the stakeholders
  • Identifies the firms customers and their needs and marches them with products and services.
  • All of the above 1, 2 and c.
Q5 | The term which is used to identify the major areas of business of a diversifiedorganization is.
  • Business area.
  • Business segment, group or diversion
  • Business scope.
  • Diversified business.
Q6 | Business composition is the term used while framing the following strategies. Whatare they?
  • Corporate strategy.
  • Marketing strategy.
  • Business strategy.
  • Both 1 and b.
Q7 | Which of the following is not the characteristics of a strategic business unit?
  • It serves a homogenous set of markets with a limited number of related technologies
  • It serves a unique set of products.
  • It owns responsibility for its own profitability.
  • None of the above.
Q8 | According to GE screening grid model, which strategy should a company follow when it has high industry attractiveness and low business competitive position.
  • Invest/growth
  • Selective investment /maintain position.
  • Harvest/divest
  • None of the above.
Q9 | Which of the following will act as a corner stone in maintaining the competitiveness of company
  • Market focus.
  • Defining capabilities.
  • Relationships and organizational change.
  • None of the above.
Q10 | Which analysis compares the strengths and weaknesses of a firm against theopportunities and threats in the external environment.
  • Environmental analysis.
  • Business analysis.
  • SWOT analysis.
  • None of the above.
Q11 | Which of the following is not included in the list of macro environmental variables.
  • Prevailing economic conditions and political manifestors.
  • Changes in legislation and emerging new technologies.
  • Financial conditions and culture.
  • None of the above.
Q12 | What is the term used if management wants to audit the key management functionslike sales force, advertising or pricing?
  • Vertical audit
  • Horizontal audit.
  • External audit.
  • None of the above.
Q13 | The best way for a retailer to differentiate itself in the eyes of the consumer formthe competitions is to.
  • increase advertising of sale items.
  • offer the lowest prices in town.
  • always be well stocked with the basic items that customers would expect to find in your store.
  • not sell any of the brand names the competition is selling.
Q14 | The boomerang effect is a relatively new phenomenon that describes
  • the recent trend for firms to seek bankrupts protection.
  • the way styles from years ago come back as today's most popular styles.
  • the recent trend of children returning to live with their parents after having already moved out.
  • the recent trend of having most companies report losses for the current quarter .
Q15 | Discretionary income is.
  • all personal income after taxes and retirement savings.
  • all personal income after savings
  • all personal income after taxes.
  • personal income after taxes minus the money needed for necessities.
Q16 | The final stage of the consumer shopping/purchase model around which all otherstages revolves is the.
  • buy decision stage.
  • active information gathering stage.
  • purchase stage.
  • post-purchase evaluation stage.
Q17 | What type of competitive structure are most retail firms involved in?
  • horizontal competition.
  • monopolistic competition.
  • vertical competition.
  • pure competition.
Q18 | Which of the following marketing functions is one the retailer could not perform?
  • selling.
  • sorting.
  • location analysis.
  • buying.
Q19 | Facilitating institutions may best be described as specialists that.
  • take title but not possession of the merchandise.
  • take title to the merchandise in order to facilitate the transaction
  • manage the channel so as to increase over-all efficiency marketing functions
  • perform certain marketing functions, in which they have an expertise, for other channel members.
Q20 | Which one of the following factors is not found on a six month merchandisebudget?
  • planned gross margin.
  • current liabilities.
  • planned sales percentage
  • planned purchases at retail.
Q21 | The --- provides the retailer with a picture of the organization's profit and losssituation
  • expense report.
  • index of inventory valuation.
  • statement of cash flow.
  • income statement.
Q22 | What word best describes the relationship between a retailer's pricing decisions and the merchandise, location, promotion, credit, services, image and legal decisions that retailers must make?
  • independent.
  • separate.
  • interactive.
  • competitive.
Q23 | If a retailer is offering the same products and quantities to different customers at different prices, the retailer has what kind of pricing policy?
  • two-price
  • customary.
  • flexible.
  • leader.
Q24 | Which of the following areas should not be taken into consideration whenformulating a retailer's promotional strategy?
  • the retailers credit customers.
  • the price level of the merchandise.
  • merchandise inventory levels.
  • the retailer's net worth.
Q25 | The two objectives of institutional advertising include:.
  • creating a positive store image and public service promotion
  • publicity and sales promotions.
  • advertising a sale and generating store
  • none